I feel your pain. My wife walked out the front door when our son was only 11 years old and she never looked back. I raised him and put him through college. He graduated with a dual degree. MBA and a BA in Accounting. Even with all the hard work it took to raise him I would do it all over again. The time we had together was priceless. While he was in college I pick up one of his books and it was on trading. After reading that book I was bit by the trading bug. That was 6 years ago. I started with stocks then went to Forex and now I am trading the futures market and I like it the best so far. Like so many other traders I have went through 3 accounts before I stopped the bleeding. I can now see the light at the end of the tunnel. One of the biggest things that help me was making a trading plan and sticking to it and reading a book called Trading in the zone by Mark Douglas. Like you I got to the point that I was having some problems with pulling the trigger. That book helped me with that. In fact I now look forward to a couple of losing trades because I know that after a couple of losing trades I am going to have some winners. After reading that book and making a trading plan and following it I have more winning trades than losing trades and I am finally on my way. My goal is to be able to pay my bills with my trading and that goal is to happen at the end of March 2013. So far I am on track.
Good luck my friend.
The following user says Thank You to Trader Rick for this post:
I've been trading futures for a number of years now and I'm about to deploy a new trading system that uses the TT FIX Adapter. In terms of performance and reliability, can anyone recommend a retail broker that offers this connectivity option?
I'm actually a complete beginner to trading, haven't actually done any trading myself yet. I'm currently in the process of learning and understanding the entire scope. My primary focus is software development. I am an experienced c# software developer and have experience with several different frameworks. I also have a background in IT and systems administration. I am currently looking to break out of my field and use my knowledge to create a system that will earn me a nice retirement. Somehow I don't think my 401k is going to do me much good in the future. I look forward to leveraging the plethora of resources on this site to really create a robust platform. Thanks for making this available as I believe this site contains the majority of answers to my questions. Any advice for the new guy is always appreciated.
Hi, I'm Bryan and I am a programmer as a profession. I began working on trading software around 2005 with NinjaTrader. I am still programming and learning with NinjaTrader and C#. My background has been with medical software and the language called "M".
My current programming project with a partner is called Price Dynamics.
I'm glad I found about this blog while looking for Monitor Setups examples.
I'm currently learning about technical analysis and going over all my trades for the past few years. Doing that, I have learned a lot about what to do and, more importantly, what not to do. The main lesson so far, place stops and honor them. I blew some cash with Nokia after it increased significantly and not having an exit plan.
Hi all my Trading name is Trade4Pay.
I've been trading for about 37 years now. I taught Finance at Xavier University in the early 80s, & that helped me get better at trading.
For years I was a buy and hold trader, but the market didn't move very much anyway. I just diversified, and things went well.
In 2004, I sold my company and decided to retire. To supplement my income, I took my accounts from my brokers, and started trading myself.
I still was a longer term trader, but as I learned more about the market, I got more & more into shorter term trades. First stocks, then using options, and finally futures.My wife retired from teaching after 31 years, and we started trading together.
Now we trade mostly options with stocks for longer term, and futures for scalping.
Really enjoy this site & will do what I can to help out.
Learn Something Everyday from, and about the market, or it will teach you the what it wants.
Been trading since the early 90 but not full time until after I retired 2005. As for the most of us it has been a hard long road. Day trading is the only trades I do. Did not found the right tools so I decided to make them myself. First I used TS but now Sierra. Sierra made it work for me but it took some time.So after 7 years I now have my own full auto trading system. First it used Renko bars but now the Flexrenko bars. They are the best bars I have found so far. Trade the European open from 2 am cet until 4 am cet. The Dax and the Bund. US from day session open and the first 2-3 hours. NQ,YM,ES and the EMD. Most trades in NQ and the YM. I live on my farm and before I retired I was a second hand car deal so you better watch out
If you are trading using price action, with the trend and in particular on any of those faster moving instruments like FDAX, CL - and you are making money or nearly making money you will find that you can help me. Thanks in advance.
If you are a beginner - I will try to be honest and tell you how I mess up. I hope I can help you.
The intro contains details of my setup and objectives.
I'm looking for answers to specific questions. I hope you can help. I also hope that the questions will be specific.
@Big Mike - thank you ... just that. There is just one thing that I would like to point out. You say that you are not good with people. Perish the thought. There are hundreds of people (maybe more) who would do inappropriate things for you. Nice one. There are a lot of reasons for thanks, the work, the "business model" and the insights. From blown accounts, to unnecessary big draw down days, to keeping it simple and sticking at it you have a lot to say and certainly say it in a nice way.
@Fat Tails - patient and generous to a fault, thoughtful and capable of great insight, a craftsman and even funny. Your tools, hundreds of them (do you sleep?), help us all see the price action and how it moves. For me they are the stabilizers (learner wheels) that keep the bike upright while we are learning to cycle. Ganz herzlichen dank.
@perryg - I got "it" when I watched your webinars. The rubber band. When I trade I often hear your voice saying "Don't even think about it!" and "MDMA" and "PPMA". I do a pretty good imitation of you I must say.
@Erez - nice stuff - well done for following perryg it helps a lot
@gomi - one day my brain will get enough O2 to use your stuff
@Xav1029 - XAVPriceActionTrendV2 - woke me up. Merci.
@DarthTrader - Mach's einfach. Keep it simple. Thanks ! GT24TT - great. I use it everyday. Whenever my chart started looking like a hot dog with everything on it (I can't remember who said that) I keep it simple.
Thank you @truman2 for reminding me that the internet is a place where a little knowledge can get you properly slapped. I sometimes trade like you start forum threads. I get in too early without reading the action carefully but my heart is in the right place. Thank you @chopstick for "Is Big Mike verifiably Big?". Thank you Mike for closing the thread. I've seen enough of @ThatManFromTexas or any man from Texas really ...
Trade well everyone.
Last edited by podski; February 1st, 2013 at 10:36 AM.
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